Westmont-based P.J. Whelihan’s Restaurant Group received an injection of growth capital from Comvest Credit Partners, a leading provider of flexible financing solutions to middle-market companies. Comvest acted as administrative agent in providing an $80 million senior secured credit facility to PJW to support its acquisition by New York City-based Garnett Station Partners.
Terms of the deal have not been disclosed. National law firm Lowenstein Sandler represented PJW in the transaction.
PJW owns 26 restaurants across six brands in Pennsylvania and New Jersey and employs more than 1,800 workers. The majority of units operate as P.J. Whelihan’s Pub and Restaurant, a chain of American bar-and-grill-themed sports bars with 19 locations. PJW’s other dining concepts, which range from casual Italian to high-end steakhouse eateries, include the Pour House, Treno Pizza Bar, the ChopHouse, the ChopHouse Grille and Central Taco and Tequila.
“Comvest is excited to support PJW’s growing family of popular restaurant brands. All focus on great food, an inviting ‘neighborhood feel’ and community impact,” said Nick McClelland, principal at Comvest. “We leveraged Comvest’s considerable expertise and resources in the restaurant sector to structure a flexible financing solution, enabling PJW to capitalize on organic and inorganic growth opportunities in its continued expansion.”